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Mexican food maker’s premises a tasty offering for investors

The property for sale sits on a corner site on Ben Lomond Crescent, in the heart of Auckland’s Pakuranga industrial precinct. It is fully leased to La Maison Foods, a privately-owned producer of corn chips and tortillas.

Made using New Zealand corn and authentic Mexican techniques, La Maison’s products are supplied to a diverse customer base with brands and contract packing in retail, foodservice and meal bags. The company’s Me Hiko brand corn tortilla chips are available through Farro and selected New World supermarkets.

A long-established occupier in the area since the company was founded over 25 years ago, La Maison Foods will pay annual net rent of $200,180 plus outgoings and GST for its Pakuranga premises on a new eight-year lease to begin at settlement.

The lease agreement will include four further four-year rights of renewal, with built-in 2.5 percent annual rental growth, plus market rent reviews and a 12-month bank guarantee.

The property at 53 Ben Lomond Crescent, Pakuranga Heights, Auckland, is being marketed for sale by sole agents Nelson Raines and Tim Bull of Bayleys South Auckland.

Sale will be by deadline private treaty closing on Wednesday 27 April, unless the property is sold prior.

Raines said the offering consisted of an approximately 1,000-square metre building on some 2,016-square metres of freehold land at the corner of Ben Lomond Crescent and Rylock Place.

“The bulk of the building comprises a highly functional clear-span warehouse/factory of some 868-square metres with access via three roller doors. The remainder is made up of office and mezzanine areas of approximately 51-square metres and 80-square metres respectively,” Raines said.

The structure has an A-grade Initial Evaluation Procedure seismic rating of 90 percent of new building standard.

“The building is complemented with more than 600-square metres of yard which is accessible by two entry/exit points on Rylock Place. With more than 90-metres of frontage to Ben Lomond Crescent and Rylock Place, the site offers the potential for access from both thoroughfares,” said Raines.

The property’s Business – Light Industry zoning under the Auckland Unitary Plan supports smaller-scale industrial activities in areas such as manufacturing, production, logistics, storage, and transport, that do not generate objectionable odour, dust or noise.

Bull said the Pakuranga precinct was home to a rich mix of well-established light-industrial tenants including manufacturers, homeware and building suppliers, automotive and engineering firms, and marine suppliers.

“Ben Lomond Crescent is essentially a loop road with two points of access off Cascades Road, a major local thoroughfare. Other main roads nearby include Pakuranga Highway and Ti Irirangi Drive.

“Ben Lomond Crescent is unique in that it offers light-industrial activity within a few minutes’ drive of a large residential catchment taking in Pakuranga, Howick and Botany, as well as being close to the major manufacturing and distribution hub of East Tamaki,” said Bull.

Click here for more information on the listing.

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